Shytoshi Kusama, one of the developers of the popular meme coin Shiba Inu (SHIB), made a tweet mocking Litecoin (LTC). However, the response from the official Twitter account of the relevant altcoin project was not delayed.
Shiba Inu inventor made fun of an ancient altcoin!
Shytoshi Kusama, the lead developer and one of the main actors of the SHIB project, continues his teasing. This time his target was Litecoin (LTC), one of the leading altcoin projects of the past. The inventor of SHIB recently made an interesting offer to Bloomberg Business. Kusama asked Bloomberg to stop referring to Litecoin (LTC) as the third option when it comes to cryptocurrencies, after Bitcoin (BTC) and Ethereum (ETH).
Litecoin did not fall under this humiliating post and did not step aside. Litecoin responded to Kusama’s taunt by saying that LTC should be at the top of the list.
You're right, should be first.
— Litecoin (@litecoin) July 16, 2022
Indeed, it was in the 2010s when cryptocurrencies first gained popularity. However, now LTC is considered a zombie cryptocurrency on par with EOS and XRP. Litecoin, once one of the top three cryptocurrencies, currently ranks 20th at $3.9 billion in market cap, according to CoinMarketCap.
At press time, LTC was trading at $55.71, up 2.17% on a daily basis. As you follow on Kriptokoin.com, the altcoin hit an all-time high of $412.96 about a year ago. However, LTC, which has fallen since then, currently stands at 86.51% off ATH.
Litecoin (LTC) is experiencing a lack of demand and interest
Many crypto analysts believe this is due to the extremely low demand and user interest in the Litecoin Blockchain and LTC token respectively. Despite continued development, regular conferences and mining activities, Litecoin seems to never be able to step out of the shadow of its more successful competitors. Companies like SHIB and DOGE or SOL have outstripped LTC in the past few years. While doing this, he knew how to take advantage of the power of social media. Also, DOGE and SHIB caused a stir on a global scale despite being meme coin.
At the same time, few people know that, unlike the same Solana (SOL), Litecoin remains almost the only Blockchain that never stops working. Litecoin has also successfully introduced the MimbleWimble extension, which makes it more private by hiding the sender’s name and the number of tokens sent. But as a result, major South Korean exchanges decided to remove LTC.
The 3.9 billion market cap is too low for Litecoin for such a time-proven crypto project. But his team clearly needs to do something about market interest and demand. Otherwise LTC will never be able to get out of the zombie project situation.
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